Yep, it is enough to show the player at the new intersection he arrives at in which directions he can travel.
Regarding the blinking of the arrow, it should start with the "on" phase, since currently it's easy to think your first cursor key hit wasn't registered, but I tested a number of times, it always does, it's only the blinking that starts on the "off" (dark) phase and thus it looks like nothing reacted to you pressing a key.